Skip to main content

March 15, 2020

Corporate Tax Card - 2020

Quick Reference Card

 

Current to January 15, 20201

 

Small Business Limits

 

Province Small Business Limit2 Combined Tax Rate
Federal $500,000 9.0%
BC $500,000 11.0%
AB $500,000 11.0%
SK3 $500,000/$600,000 11.0% / 17.0%
MB $500,000 9.0%
ON $500,000 12.2%
QC4 $500,000 14.0%
NB $500,000 11.5%
NS $500,000 12.0%
PEI $500,000 12.0%
NL $500,000 12.0%
YK5 $500,000 11.0%
NT $500,000 13.0%
NU $500,000 12.0%

 

1 Tax rates reflect budget proposals and news releases to January 15, 2020

Saskatchewan ($600,000) has a small business limit that differs from the rest of the country ($500,000)

3 In Saskatchewan, for active business income up to $500,000 the combined tax rate is 11%. For active business income ranging from $500,000 to $600,000 the combined tax rate is 17%.

4 CCPCs engaged in M&P activities in Quebec may be eligible for an additional reduction in the small-business rate.

5 CCPCs engaged in M&P activities in the Yukon may be eligible for an additional reduction in the small-business rate.

This communication is published by CI Global Asset Management (“CI GAM”). Any commentaries and information contained in this communication are provided as a general source of information and should not be considered personal investment advice. Facts and data provided by CI GAM and other sources are believed to be reliable as at the date of publication.

 

Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI GAM has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this document.

 

Information in this communication is not intended to provide legal, accounting, investment or tax advice, and should not be relied upon in that regard. Professional advisors should be consulted prior to acting based on the information contained in this communication.

 

You may not modify, copy, reproduce, publish, upload, post, transmit, distribute, or commercially exploit in any way any content included in this communication. You may download this communication for your activities as a financial advisor provided you keep intact all copyright and other proprietary notices. Unauthorized downloading, re-transmission, storage in any medium, copying, redistribution, or republication for any purpose is strictly prohibited without the written permission of CI GAM.

 

CI Global Asset Management is a registered business name of CI Investments Inc.